Cravath’s New York Office Moves to Two Manhattan West
Financial Services and Insurance
Cravath has been a leading advisor to a broad array of financial institutions, insurers and reinsurers for decades, including in some of the largest and most important transactions and cases in recent history. Our clients include commercial banks, including both U.S. and non-U.S. money‑center banks and large U.S. regional banks, investment banks, broker‑dealers, non‑traditional lending sources, fintech companies and non-bank firms, private equity funds, hedge funds, asset managers and investment advisors. We also represent diversified insurance and related financial services companies and leaders in the property and casualty insurance and reinsurance markets.
Our transactional capabilities include representing these clients, or their boards of directors, in connection with mergers, acquisitions, divestitures, spin-offs, regulatory matters, bank financings and capital market activities. Over the years, we have advised on groundbreaking deals employing first-use structures, handled critical transactions and assisted companies in navigating some of the most significant financial crises and post-crisis matters in this sector.
Our litigators routinely tackle the largest and most significant cases in the industry, representing financial institutions (or their outside directors or special committees) in securities class actions—including serving as nationwide coordinating counsel—antitrust class actions, RICO class actions, mergers & acquisitions litigation, bankruptcy litigation and shareholder derivative actions, as well as litigation arising under the Alien Tort Statute and matters involving non-U.S. law. Our litigators handle matters at the trial and appellate levels, in arbitrations and before government and regulatory bodies. In addition, our investigations team is a trusted advisor to financial institutions, their boards of directors and their senior executives regarding internal and government investigations, regulatory enforcement proceedings and white collar criminal defense matters involving the full range of corporate crises.
Our transactional capabilities include representing these clients, or their boards of directors, in connection with mergers, acquisitions, divestitures, spin-offs, regulatory matters, bank financings and capital market activities. Over the years, we have advised on groundbreaking deals employing first-use structures, handled critical transactions and assisted companies in navigating some of the most significant financial crises and post-crisis matters in this sector.
Our litigators routinely tackle the largest and most significant cases in the industry, representing financial institutions (or their outside directors or special committees) in securities class actions—including serving as nationwide coordinating counsel—antitrust class actions, RICO class actions, mergers & acquisitions litigation, bankruptcy litigation and shareholder derivative actions, as well as litigation arising under the Alien Tort Statute and matters involving non-U.S. law. Our litigators handle matters at the trial and appellate levels, in arbitrations and before government and regulatory bodies. In addition, our investigations team is a trusted advisor to financial institutions, their boards of directors and their senior executives regarding internal and government investigations, regulatory enforcement proceedings and white collar criminal defense matters involving the full range of corporate crises.
Deals & Cases
November 18, 2024
goeasy Ltd.’s High‑Yield Senior Notes Offering
Cravath represented the initial purchasers in connection with the $400 million and C$150 million 144A/Reg. S high‑yield senior notes offering of goeasy Ltd., a leading full‑service provider of goods and alternative financial services that improve the lives of everyday Canadians. Cravath also represented the dealer manager in connection with goeasy Ltd.’s concurrent debt tender offer. The transaction closed on November 4, 2024.
Deals & Cases
November 15, 2024
State Street Corporation’s $2.3 Billion Registered Senior Notes, Floating Rate Senior Notes and Fixed-to-Floating Rate Senior Notes Offering
Cravath represented the underwriters in connection with the $2.3 billion registered senior notes, floating rate senior notes and fixed-to-floating rate senior notes offering of State Street Corporation, a provider of a broad range of financial products and services to institutional investors worldwide. The transaction closed on October 22, 2024.
Deals & Cases
November 05, 2024
JPMorgan Chase’s $8 Billion Registered Floating and Fixed-to-Floating Rate Notes Offering
Cravath represented the underwriters in connection with the $8 billion registered floating and fixed-to-floating rate notes offering of JPMorgan Chase & Co., a leading global financial services firm. The transaction closed on October 22, 2024.
Deals & Cases
November 04, 2024
DRI Healthcare Trust’s Acquisition of a Synthetic Royalty Interest in the Worldwide Sales of Sebetralstat and Equity Investment in KalVista Pharmaceuticals
On November 4, 2024, DRI Healthcare Trust (“the Trust”), a global leader in providing financing to advance innovation in the life sciences industry, announced it has acquired a royalty interest in the worldwide net sales of all formulations of sebetralstat, an investigational oral plasma kallikrein inhibitor for the treatment of Hereditary Angioedema, from KalVista Pharmaceuticals ("KalVista") for an aggregate purchase price of up to $179 million, comprised of a $100 million upfront payment, up to $57 million in a sales-based milestone payment and a one-time $22 million optional payment. Additionally, the Trust is making a $5 million investment in KalVista’s common stock in a private placement transaction. Cravath is representing DRI Healthcare Trust in connection with the transaction.
Deals & Cases
November 04, 2024
PNC Financial Services Group’s $1.5 Billion Registered Fixed Rate/Floating Rate Senior Notes Offering
Cravath represented the underwriters in connection with the $1.5 billion registered fixed rate/floating rate senior notes offering of The PNC Financial Services Group, Inc., one of the largest diversified financial services companies in the United States. The transaction closed on October 21, 2024.
Activities
November 14, 2024
Jelena McWilliams Speaks at The Clearing House’s 2024 Annual Conference
On November 12, 2024, Cravath partner Jelena McWilliams participated in The Clearing House’s 2024 Annual Conference, which was held from November 12‑13 in New York. The event convened senior financial services executives, policymakers, technology companies and professional services firms to discuss strategic issues, challenges and opportunities for financial institutions. Jelena spoke on a panel entitled “Whose Business Judgement? The Intersection of Regulation, Independent Risk Management, and Innovation,” which reviewed the expanded complexity of bank regulation and related supervisory requirements and considered how regulated financial institutions can embrace a culture of compliance while reducing bureaucracy.
Publications
November 13, 2024
Richard Hall, Adam Sanchez and Dave Perkins Co‑Author Guide with Travers Smith on UK Public Takeovers for U.S. PE Sponsors
Cravath partners Richard Hall, Adam M. Sanchez and David J. Perkins and associate Yeana Lee co‑authored a guide with attorneys from Travers Smith entitled “Public Takeovers in the UK – A Guide for US PE Sponsors,” which was published on November 13, 2024. The guide provides a practical review of the UK Takeover Code and addresses key matters that should be considered by U.S. private equity sponsors on any potential UK public takeover.
Activities
November 08, 2024
Elad Roisman Moderates Panel at Bloccelerate VC’s 2024 Web3 Founder Summit
On November 8, 2024, Cravath partner Elad Roisman participated in the third annual Web3 Founder Summit, which was hosted by Bloccelerate VC in New York. Elad moderated a panel entitled “Crypto Regulatory Outlook for 2025 & Beyond.”
Activities
November 07, 2024
Best Law Firms Names Cravath 2025 Litigation - Banking and Finance Law Firm of the Year and Ranks Firm in Top Tier
In November 2024, Cravath received the 2025 Best Law Firms “Law Firm of the Year” award in Litigation - Banking and Finance, ranked by Best Lawyers. Only one law firm is honored in each practice category for their “professional and legal excellence amongst their peers.” Awards are given based on a combination of peer reviews, client feedback, leadership interviews and firm‑submitted data.
Activities
November 07, 2024
Elad Roisman Speaks at TD Securities’ 25th Annual Portfolio Management and Market Structure Conference
Cravath partner Elad Roisman participated in TD Securities’ 25th Annual Portfolio Management and Market Structure Conference, which was held on November 7, 2024, in Toronto, Canada. Elad was featured in a fireside chat entitled “Understanding a Post Chevron SEC Agenda,” during which he provided insight into the impacts of the Supreme Court’s Chevron decision on SEC rulemaking.
Deals & Cases
November 18, 2024
goeasy Ltd.’s High‑Yield Senior Notes Offering
Cravath represented the initial purchasers in connection with the $400 million and C$150 million 144A/Reg. S high‑yield senior notes offering of goeasy Ltd., a leading full‑service provider of goods and alternative financial services that improve the lives of everyday Canadians. Cravath also represented the dealer manager in connection with goeasy Ltd.’s concurrent debt tender offer. The transaction closed on November 4, 2024.
Deals & Cases
November 15, 2024
State Street Corporation’s $2.3 Billion Registered Senior Notes, Floating Rate Senior Notes and Fixed-to-Floating Rate Senior Notes Offering
Cravath represented the underwriters in connection with the $2.3 billion registered senior notes, floating rate senior notes and fixed-to-floating rate senior notes offering of State Street Corporation, a provider of a broad range of financial products and services to institutional investors worldwide. The transaction closed on October 22, 2024.
Deals & Cases
November 05, 2024
JPMorgan Chase’s $8 Billion Registered Floating and Fixed-to-Floating Rate Notes Offering
Cravath represented the underwriters in connection with the $8 billion registered floating and fixed-to-floating rate notes offering of JPMorgan Chase & Co., a leading global financial services firm. The transaction closed on October 22, 2024.
Deals & Cases
November 04, 2024
DRI Healthcare Trust’s Acquisition of a Synthetic Royalty Interest in the Worldwide Sales of Sebetralstat and Equity Investment in KalVista Pharmaceuticals
On November 4, 2024, DRI Healthcare Trust (“the Trust”), a global leader in providing financing to advance innovation in the life sciences industry, announced it has acquired a royalty interest in the worldwide net sales of all formulations of sebetralstat, an investigational oral plasma kallikrein inhibitor for the treatment of Hereditary Angioedema, from KalVista Pharmaceuticals ("KalVista") for an aggregate purchase price of up to $179 million, comprised of a $100 million upfront payment, up to $57 million in a sales-based milestone payment and a one-time $22 million optional payment. Additionally, the Trust is making a $5 million investment in KalVista’s common stock in a private placement transaction. Cravath is representing DRI Healthcare Trust in connection with the transaction.
Deals & Cases
November 04, 2024
PNC Financial Services Group’s $1.5 Billion Registered Fixed Rate/Floating Rate Senior Notes Offering
Cravath represented the underwriters in connection with the $1.5 billion registered fixed rate/floating rate senior notes offering of The PNC Financial Services Group, Inc., one of the largest diversified financial services companies in the United States. The transaction closed on October 21, 2024.
Activities
November 14, 2024
Jelena McWilliams Speaks at The Clearing House’s 2024 Annual Conference
On November 12, 2024, Cravath partner Jelena McWilliams participated in The Clearing House’s 2024 Annual Conference, which was held from November 12‑13 in New York. The event convened senior financial services executives, policymakers, technology companies and professional services firms to discuss strategic issues, challenges and opportunities for financial institutions. Jelena spoke on a panel entitled “Whose Business Judgement? The Intersection of Regulation, Independent Risk Management, and Innovation,” which reviewed the expanded complexity of bank regulation and related supervisory requirements and considered how regulated financial institutions can embrace a culture of compliance while reducing bureaucracy.
Publications
November 13, 2024
Richard Hall, Adam Sanchez and Dave Perkins Co‑Author Guide with Travers Smith on UK Public Takeovers for U.S. PE Sponsors
Cravath partners Richard Hall, Adam M. Sanchez and David J. Perkins and associate Yeana Lee co‑authored a guide with attorneys from Travers Smith entitled “Public Takeovers in the UK – A Guide for US PE Sponsors,” which was published on November 13, 2024. The guide provides a practical review of the UK Takeover Code and addresses key matters that should be considered by U.S. private equity sponsors on any potential UK public takeover.
Activities
November 08, 2024
Elad Roisman Moderates Panel at Bloccelerate VC’s 2024 Web3 Founder Summit
On November 8, 2024, Cravath partner Elad Roisman participated in the third annual Web3 Founder Summit, which was hosted by Bloccelerate VC in New York. Elad moderated a panel entitled “Crypto Regulatory Outlook for 2025 & Beyond.”
Activities
November 07, 2024
Best Law Firms Names Cravath 2025 Litigation - Banking and Finance Law Firm of the Year and Ranks Firm in Top Tier
In November 2024, Cravath received the 2025 Best Law Firms “Law Firm of the Year” award in Litigation - Banking and Finance, ranked by Best Lawyers. Only one law firm is honored in each practice category for their “professional and legal excellence amongst their peers.” Awards are given based on a combination of peer reviews, client feedback, leadership interviews and firm‑submitted data.
Activities
November 07, 2024
Elad Roisman Speaks at TD Securities’ 25th Annual Portfolio Management and Market Structure Conference
Cravath partner Elad Roisman participated in TD Securities’ 25th Annual Portfolio Management and Market Structure Conference, which was held on November 7, 2024, in Toronto, Canada. Elad was featured in a fireside chat entitled “Understanding a Post Chevron SEC Agenda,” during which he provided insight into the impacts of the Supreme Court’s Chevron decision on SEC rulemaking.
Cravath Bicentennial
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